The distribution of educational resources in Beijing city and the housing prices
Abstract：House price is not only affected by national macroeconomic policy, but also affected by the public facilities and the environment around. The equilibrium distribution of education resource result in house price fluctuation. That is not equity and widen the gap between the rich and the poor. We research the factors affecting the house price of Beijing’ key schools, result point that school district house price is 13.8% higher than that of non-school district house having similar conditions. By controlling other public resources, like subway station, park and kindergarten, and itself property, like house age, greening rate, plot ratio, result suggest that school district house in Haidian and Chaoyang have premium of 31%. Meanwhile, they have premium of 23% totally. The result is, different house price reflect inequality of Beijing’s education resources, and most part of high quality resources distribute in central area. These spatial pattern is unreasonable, reducing the utilization of high quality public resources, and resulting in sharp rise of house price in the central area, lastly, expanding wealth gap. So the government should enhance quality of education and improve traffic efficiency. Through these measures, we can reach these goals: the suburbs improving its attractiveness, population density of Beijing decreasing, and more importantly, public resources distributing equality.
Keywords: house price; public resource; factors; inequality; population density
1.Introduction
Real estate is one of the most important parts of the economy in our country, the price rise is the result of multiple factors. The quality of public resources is an important factor to affect the price of housing, which is especially important in the teaching quality of residential buildings.
The education resources has always been an important impact on housing prices, for example, according to the study, in 2004, in the transition process from a poor school in London to a top school, house prices have an increase of 61000 pounds. Early studies such as Oates (1969) on the cost of real estate prices and public schools spending on each students, he found that they have a significant positive correlation, and the negative effect of house property tax on housing prices can be offset if they spend the money to the school, the study shows that residents tend to pay higher prices to better public services. And Fullerton Rosen (1977) believes that the use of each student's spending in public schools as a variable is not very appropriate, because the cost of education, and other factors are not easy and accurate, so they use the average performance of students on behalf of the school quality, the results show that the data and prices are significantly positive correlation. However, it is not very good to solve the problem, in order to better quantification the quality of school teaching, Lucas Figlio (2004) introduced the school quality rating report the state government issued as a supplement to the students' average test score, the study shows that when
